The company has suspended guidance. Costs are being managed, which includes staff leave, shorter working weeks and reductions in discretionary expenditure.
Non-executive directors and the managing director will take a -20% reduction in fees and fixed remuneration for the remainder of FY20.
Credit Suisse reduces FY20 and FY21 underlying estimates for earnings per share by -71% and -33% respectively. Outperform rating maintained. Target is reduced to $12 from $24.
Sector: Consumer Services.
Target price is $12.00.Current Price is $7.83. Difference: $4.17 – (brackets indicate current price is over target). If CTD meets the Credit Suisse target it will return approximately 35% (excluding dividends, fees and charges – negative figures indicate an expected loss).
